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It should be noted that for purposes of the Act, life insurance corporations are considered to be public corporations. ... A corporation's business will be considered to have been carried on in Canada if at least 50% of its employees are engaged in the business in Canada or at least 50% of its salaries or wages are paid for services provided in Canada in respect of the business. If the corporation is part of a group of related corporations, the combined services of their employees and the combined salaries and wages paid must be considered in making this determination. ...

If the instrument is accepted as absolute payment, the debtor will be considered to have paid the debt and the creditor will be considered to have received the value of the instrument [see IT- 433].... ... Although it is usually considered that the creditor has accepted an instrument as conditional payment or as evidence of indebtedness, in the appropriate circumstances the instrument may be accepted as absolute payment and the debtor will be considered to have paid the debt. In IT-77R, for instance, it states that a security will be considered to be received in absolute settlement of a debt if the creditor accepts the security at the risk of its being dishonoured, with his only legal recourse being an action against the issuer for failure to honour the obligation. ...

In order for the amount of a retiring allowance to be considered reasonable in a non-arm's length situation, it should not exceed the amount that would be considered reasonable in an arm's length situation. In one private opinion letter, the Department considered that it was not likely that a reasonable arm's length allowance would exceed 2 1/2 times the average salary for the last five years, minus the total of any amounts the employee would be entitled to receive on retirement in respect of deferred profit sharing plans, registered pension and registered retirement savings plans. ... Department's Position Generally speaking, where the amount of a payment that otherwise qualifies as a retiring allowance is considered reasonable based on the above criteria, the characterization of the payment as a retiring allowance or the deductibility of the amount will not be affected by the fact, in and of itself, that the amount is to be paid in instalments over a 2 or 3 year period. ...

If such a payment was not incurred for the purpose of gaining or producing income from a business, it would be considered a non-deductible capital expenditure. ... (c) current expenditure: An amount paid in the course of a landlord's property rental business to obtain a non-anchor tenant is considered to be on income account. An amount paid to a lead or anchor tenant is also considered to be on income account where the payment does not yield an enduring benefit. ...

As noted in paragraph 2 of Interpretation Bulletin IT-290 the word "principal" is considered synonymous with the words "chief" and "main", however for the purposes of paragraph 125(7)(e) it is the principal purpose of the business which must be considered rather than the "principal business" as discussed in the above-mentioned Interpretation Bulletin. ... Where the royalty income is related to an active business carried on by the recipient corporation, or that corporation is in the business of dealing in or originating the property from which the royalties are received, such income will not be considered as income from property. However, this conclusion would have to be considered annually: see paragraph 13 of IT-73R4. ...

As we understand it, you are primarily concerned with the question as to whether or not the XXX of land, expropriated along with the taxpayer's principal residence, could be considered as part and parcel of his principal residence for 54(g) purposes. ... Interest as proceeds of disposition Paragraph 25 of IT-271R sets out the Department's position regarding when interest is considered to be proceeds of disposition rather than interest income. ... In situations, where paragraph 33(3)(b) of the Federal Expropriation Act (or similar provisions in relevant provincial jurisdictions) applies, interest paid is considered to be proceeds of disposition only where the original offer for the property is less than a specified percentage of the amount finally determined. ...

An amount is considered to be payable if there is an absolute and unconditional legal obligation to pay the amount event though payment may not be due until a later date. ... An overpayment of interest by a borrower which is to be refunded is not considered, for purposes of paragraph 20(1)(c), to be paid in the year and would therefore not be deductible. ... Whether an amount can be reasonably considered to have been received as an inducement or as a reimbursement, contribution, allowance or assistance is a question of fact. ...

Looking at paragraph 1(g) of Article 3 alone, the issue is- what period of time or context is to be considered in determining whether "the ship or aircraft is operated solely between places in the other State". ... Paragraph II of the Protocol provides that vessels, when so operated, shall not be considered to be operated in international traffic. ... Again, as with paragraph 1(g) of Article 3, it is necessary in respect of Paragraph II of the Protocol to determine the period of time or context to be considered in determining whether the vessel is "devoted principally to the transportation of passengers or goods exclusively between places in one of the States". ...

We would first of all like to point out that the rate of Part XIII tax on a computer software licence fee payment made by a Canadian resident to a person considered to be a resident of the U.S. for purposes of the Canada-U.S. ... It is our position that the following two conditions must be met in order for payments for any services, including a hot line service, provided in connection with the use of computer software not to be considered part of the software licence fee which is subject to Part XIII tax: 1. ... If the payments for services are not considered to be part of the computer software license fee, they could still be subject to a 15% withholding under subsection 105(1) of the Income Tax Regulations if the services are rendered in Canada by the non-resident person. ...

These assets were considered by Specialized Industries Section and by Rulings to be "qualified property" as this term is defined in subsection 127(9) of the Act provided that said assets are used primarily for the purpose of logging. ... XXX The June 9, 1989 memorandum from Specialized Industries Section however requests clarification of our position on whether equipment used for handling logs in the water would be considered as being used in logging activities. It is our view that assets such as the aforementioned self-tripping bunks, related skidways and equipment used for handling logs in the water (for floating the logs to a processing facility) would be considered as being used primarily for the purpose of logging. ...